OPEN-SOURCE SCRIPT
BuyTheDip
Updated
Well, I often had arguments in online forum with a guy who claimed to time the market perfectly without any technical analysis or prior experience. He often claimed that technical analysis does not work and it only works when you trade on other's emotions. He also argued that algorithmic trading isn't profitable - if so, everyone would do that. Hence, I thought I will convert his idea to algorithm.
In his own words, the strategy is as below:
It seems to do just fine with indexes. But, not so good when it comes to stocks.
In his own words, the strategy is as below:
- Chose an instrument which is in full uptrend.
- Wait for the panic sell and buy the dip
- Once market recovers back exit immediately
It seems to do just fine with indexes. But, not so good when it comes to stocks.
Release Notes
Reduce initial capital to 10k to avoid getting moderated. Cannot reduce further as buy operation will not work on index otherwise.Have kept 100% equity without compounding so that it will be easier to compare with buy and hold.
Release Notes
Remove calc_on_order_fills
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Subscribe - trendoscope.io/pricing
Telegram: p.trendoscope.io/telegram
Rate us : trustpilot.com/review/trendoscope.io
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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